In the last trading session, 1,310,112 shares of the Patterson-UTI Energy, Inc. (NASDAQ:PTEN) were traded, and its beta was 3.27. Most recently the company’s share price was $6.97, and it changed around $0.02 or 0% from the last close, which brings the market valuation of the company to $1.31 Billion. PTEN currently trades at a discount to its 52-week high of $9.74, offering almost -39.74% off that amount. The share price’s 52-week low was $1.82, which indicates that the current value has risen by an impressive 73.89% since then. We note from Patterson-UTI Energy, Inc.’s average daily trading volume that its 10-day average is 1.9 Million shares, with the 3-month average coming to 2.59 Million.
Patterson-UTI Energy, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3. If we narrow it down even further, the data shows that 3 out of 17 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 8 recommended PTEN as a Hold, whereas 4 deemed it a Buy, and 1 rated it as Underweight. Patterson-UTI Energy, Inc. is expected to report earnings per share of -$0.55 for the current quarter.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN): Trading Information
Instantly PTEN has showed a green trend with a performance of 0.29% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $7.39- on Thursday, Apr 01 increased the stock’s daily price by 5.62%. The company’s shares are currently up 0.33% year-to-date, but still down -0.0204 over the last five days. On the other hand, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is -0.25% down in the 30-day period. We can see from the shorts that 15.89 Million shares have been sold at a short interest cover period of 6.14 day (s).
The consensus price target as assigned by Wall Street analysts is $7.31, which translates to bears needing to increase their stock price by 4.88% from its current value. Analyst projections state that PTEN is forecast to be at a low of $5 and a high of $12. In order for the stock price to hit the forecast high, the stock would need to surge +72.17% from its current level, while the stock would need to crash -28.26% from its current level to reach the projected low.
Patterson-UTI Energy, Inc. (PTEN) projections and forecasts
Patterson-UTI Energy, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +171.21 percent over the past six months and at a -8.76% annual growth rate that is well below the industry average of -0.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -25% in revenue this quarter, and will report an increase of 5.6% in the next quarter. The year-over-year growth rate is expected to be -1.2%, down from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $244.21 Million in revenue for the current quarter. 9 analysts expect Patterson-UTI Energy, Inc. to make $270.01 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $445.93 Million and $250.38 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -45.2%. Forecasts for the next quarter put sales growth at 7.8%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -16.4%. Patterson-UTI Energy, Inc. earnings are expected to decrease by -103.9% in 2021, but the outlook is negative 0% per year for the next five years.
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PTEN Dividend Yield
Patterson-UTI Energy, Inc.’s next quarterly earnings report is expected to be released around April 29, 2021. The annual dividend yield of the stock is 1.15 percent and its annual dividend per share was $0.08. It is important to note, however, that the 1.15% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.53% per year.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 3.03% of Patterson-UTI Energy, Inc. shares, and 97.58% of them are in the hands of institutional investors. The stock currently has a share float of 100.62%. Patterson-UTI Energy, Inc. stock is held by 315 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 15.52% of the shares, which is about 29.14 Million shares worth $153.29 Million.
Vanguard Group, Inc. (The), with 10.77% or 20.22 Million shares worth $106.35 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
iShares Core S&P Smallcap ETF and Undiscovered Managers Behavioral Value Fund were the top two Mutual Funds as of Feb 27, 2021. The former held 12556162 shares worth $92.92 Million, making up 6.69% of all outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held roughly 6.64 Million shares worth around $40.83 Million, which represents about 3.54% of the total shares outstanding.